The only choice variable is x. The total benefit function is B(x) = 100x - 2x2, and
Question:
a. What are the marginal benefit and marginal cost functions?
b. Set up the net benefit function and then determine the level of x that maximizes net benefit. (Use the positive value of x.)
c. What is the maximum level of net benefit?
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Related Book For
Managerial Economics Foundations of Business Analysis and Strategy
ISBN: 978-0078021718
11th edition
Authors: Christopher Thomas, S. Charles Maurice
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